Page load started at:
Sales resources > Insurance > Tax & Estate Planning > New & noteworthy

2017 Insurance Tax Changes Education Centre

Important information
Reminder: March 31 deadline for new policies with TIA that qualify for pre-2017 tax status (login required)
New Diamond View software update available on Thursday March 2, 2017 (login required)
Term conversions and Diamond View illustrations information for the 2017 tax legislation (login required)
Legislative tax changes Transition rules (PDF)
Tax transition rules and Universal Life transition rules (PDF)
Important information about submitting new business and policy changes in 2016 (PDF)
Important deadlines for the new tax rules for Manulife Investments annuities (PDF)

WELCOME TO THE 2017 INSURANCE TAX CHANGES EDUCATION CENTRE – a central place for you to easily access valuable expert information and education to help you prepare your business and your clients for the new legislative tax rules that will impact life insurance.

What you need to know
New federal tax legislation to modernize the exempt test and related rules that determine how life insurance policies are taxed, will come into effect on January 1, 2017. New policies issued after that date as well as certain changes made to existing policies after that date will be subject to the new rules.

Helping you prepare
For the next 12 to 18 months, we encourage you to visit regularly and take advantage of our growing library of legislative tax articles and other learning materials. Manage and grow your life insurance business with confidence using these handy educational resources.

Have questions?
Please contact your Manulife representative. If you are an advisor contracted with an MGA, please contact your Back Office. If you are an Elite advisor, please contact your Regional Actuarial Consultant.

Articles & publications
2017 Life Insurance Tax Changes Series – one-page flyers

Just the Facts (February 2016)
Corporate-owned Life Insurance (April 2016)
2017 Tax changes series Annuities (September 2016)

As A Matter of Tax – comprehensive articles
Progress of Legislation (May 2015)
Prescribed Annuities and Testamentary Trust (May 2015)
Draft Exempt Test Rules – Grandfathering of Existing Policies (November 2014)
August 2014 Exempt Test Draft Legislation - Highlights (September 2014)
August 2013 Exempt Test Draft Legislation - Highlights (September 2013)
Budget 2012 – Changes to Life Insurance Exempt Test Announced (April 2012)

Tax Topics – in-depth commentaries
 Pre-2017 Grandfathered “G2” Life Insurance Policies(January 2017)
2017 Changes to the Exempt Test and Life Insurance Policy Taxation (January 2017)
Pre-1982 Grandfathered “G1” Life Insurance Policies(December 2016)
Dispositions of Life Insurance Policies (January 2017)
Taxation of Life Insurance Policy Loans and Dividends (January 2017)
Taxation of Disability Benefits under a Life Insurance Policy (September 2016)
The Exempt Test (December 2016)

CONCEPTually Speaking – concept-related issues
Planning with Personal Insured Annuities - Impact of the new tax rules for prescribed annuity contracts (April 2015)

Advisor Focus
Changes to tax-exempt life insurance are coming (Fall/Winter 2015 edition)


Canadian Taxation of Life Insurance thumbnail cover Canadian Taxation of Life Insurance
Receive 25% off the cover price (must be logged in)! Written by TREPS, this book includes what you need to know about the taxation of life insurance and how life insurance strategies can enhance your clients' financial and estate planning. The 8th edition incorporating the new tax rules is now available!


Online training

Access the Manulife CE Centre and earn CE credits by searching and completing the following course:
Insurance Market Trends (Elite Forum 2015 presentation – login required)



Insurance and Investment Journal
New Exempt Test Legislation – Evolutionary, not Revolutionary


Additional resources

Advisor FAQ – answers to your most frequently asked questions about the new tax rules

Updated insurance illustrations and marketing materials will be available later in Q4 2016. Watch for details to come.

For the latest insurance product and administration news, visit the Repsource Newsroom often.